We Think Zhejiang Akcome New Energy TechnologyLtd (SZSE:002610) Has A Fair Chunk Of Debt
We Think Zhejiang Akcome New Energy TechnologyLtd (SZSE:002610) Has A Fair Chunk Of Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Importantly, Zhejiang Akcome New Energy Technology Co.,Ltd. (SZSE:002610) does carry debt. But should shareholders be worried about its use of debt?
大卫·伊本说得很好,他说:“波动性不是我们关心的风险。我们关心的是避免资本的永久损失。”因此,当你评估公司的风险时,聪明的货币似乎知道债务——通常与破产有关——是一个非常重要的因素。重要的是,浙江爱康新能源科技有限公司, Ltd.(深圳证券交易所:002610)确实有债务。但是,股东是否应该担心其使用债务?
When Is Debt Dangerous?
债务何时危险?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
债务可以为企业提供帮助,直到企业难以偿还债务,无论是新资本还是自由现金流。资本主义的重要组成部分是 “创造性破坏” 的过程,在这个过程中,倒闭的企业将被银行家无情地清算。但是,更常见(但仍然昂贵)的情况是,公司必须以低廉的股价稀释股东才能控制债务。话虽如此,最常见的情况是公司合理地管理其债务,并从自己的利益出发。在考虑企业使用多少债务时,要做的第一件事是将现金和债务放在一起看。
Check out our latest analysis for Zhejiang Akcome New Energy TechnologyLtd
查看我们对浙江爱康新能源科技有限公司的最新分析
What Is Zhejiang Akcome New Energy TechnologyLtd's Debt?
浙江爱康新能源科技有限公司的债务是什么?
As you can see below, Zhejiang Akcome New Energy TechnologyLtd had CN¥3.57b of debt at September 2023, down from CN¥3.98b a year prior. However, it also had CN¥2.05b in cash, and so its net debt is CN¥1.53b.
如下所示,截至2023年9月,浙江爱康新能源科技有限公司的债务为35.7亿元人民币,低于去年同期的39.8亿元人民币。但是,它也有20.5亿元人民币的现金,因此其净负债为153亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231123/0-4cf0063d748b0959a3515a468df07f2f-0-be2778e3c2697a8223049132e0953159.png/big)
How Healthy Is Zhejiang Akcome New Energy TechnologyLtd's Balance Sheet?
浙江爱康新能源科技有限公司的资产负债表有多健康?
The latest balance sheet data shows that Zhejiang Akcome New Energy TechnologyLtd had liabilities of CN¥7.75b due within a year, and liabilities of CN¥545.5m falling due after that. On the other hand, it had cash of CN¥2.05b and CN¥3.00b worth of receivables due within a year. So it has liabilities totalling CN¥3.25b more than its cash and near-term receivables, combined.
最新的资产负债表数据显示,浙江爱康新能源科技有限公司在一年内到期的负债为77.5亿元人民币,此后到期的负债为5.455亿元人民币。另一方面,它在一年内有20.5亿元人民币的现金和价值300亿元人民币的应收账款。因此,它的负债总额比其现金和短期应收账款的总和高出32.5亿元人民币。
While this might seem like a lot, it is not so bad since Zhejiang Akcome New Energy TechnologyLtd has a market capitalization of CN¥10.1b, and so it could probably strengthen its balance sheet by raising capital if it needed to. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. The balance sheet is clearly the area to focus on when you are analysing debt. But you can't view debt in total isolation; since Zhejiang Akcome New Energy TechnologyLtd will need earnings to service that debt. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
尽管这可能看起来很多,但还不错,因为浙江爱康新能源科技有限公司的市值为101亿元人民币,因此,如果需要,它可能会通过筹集资金来加强资产负债表。但很明显,我们绝对应该仔细研究它能否在不稀释的情况下管理债务。资产负债表显然是分析债务时需要关注的领域。但是你不能完全孤立地看待债务;因为浙江爱康新能源科技有限公司需要收益来偿还这笔债务。因此,如果你想进一步了解其收益,可能值得看看这张长期收益趋势图。
Over 12 months, Zhejiang Akcome New Energy TechnologyLtd reported revenue of CN¥6.1b, which is a gain of 26%, although it did not report any earnings before interest and tax. Shareholders probably have their fingers crossed that it can grow its way to profits.
在过去的12个月中,浙江爱康新能源科技有限公司公布的收入为61亿元人民币,增长26%,尽管该公司没有公布任何息税前收益。股东们可能对它能够以增长的方式获利感到不安。
Caveat Emptor
Caveat Emptor
Even though Zhejiang Akcome New Energy TechnologyLtd managed to grow its top line quite deftly, the cold hard truth is that it is losing money on the EBIT line. To be specific the EBIT loss came in at CN¥267m. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. However, it doesn't help that it burned through CN¥202m of cash over the last year. So to be blunt we think it is risky. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For example - Zhejiang Akcome New Energy TechnologyLtd has 1 warning sign we think you should be aware of.
尽管浙江爱康新能源科技有限公司设法相当巧妙地增长了收入,但冷酷的事实是,它在息税前利润方面正在亏损。具体而言,息税前利润亏损为2.67亿元人民币。考虑到除了上述负债外,我们对公司应该使用如此多的债务没有太大信心。因此,我们认为其资产负债表有些紧张,尽管并非无法修复。但是,它在去年耗尽了2.02亿元人民币的现金,这无济于事。因此,坦率地说,我们认为这是有风险的。在分析债务水平时,资产负债表显然是起点。但归根结底,每家公司都可以控制资产负债表之外的风险。例如,浙江爱康新能源科技有限公司有 1 个警告标志,我们认为你应该注意。
If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
毕竟,如果你对一家资产负债表坚如磐石的快速成长型公司更感兴趣,那么请立即查看我们的净现金增长股票清单。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。